Personally, I don’t think this is a question. To me, this is a fact: retirement is dead. Let me explain:
Nowadays, people are living longer, which means the length of retirement will be longer too. This sort of makes the retirement system flawed, don’t you think? Right now, everyone is saving for that 10-15 year of average retirement time, but with a longer life span, that means there could be 20+ years of retirement time. People are saving and saving as much as they can in order to ensure that they will simply survive after work life ceases.
Basically, the definition of retirement means to put out of use. I speak with many people about how when they reach that retirement age, they aren’t looking forward to what many picture retirement being; sitting around and doing nothing. I totally get that! I believe that it’s important for people to stay active after retirement and do the things they love. That’s why I strongly believe that you are not saving for retirement, but are saving for financial freedom. This is a point I bring up often when I tell clients about DreamNumber, my program that allows you to organize and plan your path to your dreams and to financial freedom. I strongly suggest you check it out!
I also wanted to share with you this article from CNBC that adds to my discussion on traditional retirement being dead: check it out here. Now, I understand that everyone has their own opinions, and I respect that! I’d just like you to think about how you’d like to spend your retirement and take these thoughts into consideration!
Have a great week everyone!